Calculate fixed monthly repayments and total interest
Monthly Payment Formula (Amortizing Loan):
M = P × (r × (1 + r)^n) / ((1 + r)^n - 1)
Where: P = Loan amount, r = Monthly interest rate (APR ÷ 12 ÷ 100), n = Number of monthly payments
Total of Payments = Monthly Payment × Number of Payments
Total Interest Charged = Total Payments - Loan Amount
💡 Enter loan amount, APR, and number of monthly payments then click Calculate.